Daily Market Commentary: "Golden Crosses"
From Fallond Stock Picks
January 28, 2013 - 5:30pm
Markets experienced low volume trading, with slight losses on Friday's close. The biggest change was a couple of "Golden Crosses" for certain indices between 50-day and 200-day MAs, a long term bullish signal. Another reason to suggest the next fall will be a buying opportunity.The S&P had little to show on the day, "Golden Cross" or otherwise. The long standing relative shift to Small Caps has been running since the end of November, but this looks to be slowly changing in favor of Large Cap stocks.The Russell 2000 inched higher, although technicals are heavily overbought and the MACD is close to a 'sell' trigger.The Nasdaq 100 was one of the indices to develop a "Golden Cross"; the Nasdaq already experienced its "Golden Cross" a couple of weeks ago. There was a MACD 'sell' trigger which offset a new On-Balance-Volume 'buy' trigger.The semiconductor index also finished th...
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